Moody's has raised the outlook of its long-term debt ratings for Mitsubishi to 'stable' from 'negative', according to Kyodo News.

The upgrading reflects the company's growing profitability, thanks to an improved cost structure and improved marketing around the world.

The rating affects the Ba3 long-term debt ratings of Mitsubishi Motors, Mitsubishi Motors Credit of America and MMC International Finance (Netherlands).

Following the launch of a restructuring plan in 2005 Moody's expcts the new Outlander SUV and a new minicar called 'i', to contribute to earnings in 2006.

The company's market share rose to 5.2% in the first two months of the year, up from 4.6% in 2006.